4375 Jutland Drive
San Diego, CA 92117
- Offering Price
- Net Rentable Area
- Year Constructed
- Property Type
- Land Area
Nick Totah | Senior Associate
Associate Director: NOIPG
Marcus & Millichap is pleased to present 4375 Jutland Drive in San Diego, a very rare single-tenant office building offering with more than 12 years remaining on its initial lease. The tenant is Aldridge Pite, LLP, a full-service provider of legal services to depository and non-depository financial institutions. The tenant pays reimbursements above its 2013 base year, allowing for returns to be shielded from any increase in property tax. In 2015 the owner upgraded several of the property’s facilities, including rebuilding all bathrooms, repaving the entire parking lot, landscaping & irrigation improvements, installing LED lighting, repainting the metal exterior, reglazing and sealing all exterior glass and replacing all exit gate sensors and tracks. The roof was installed in 2009 and carries a 15 year guarantee and the elevator and HVAC units are in excellent condition.
- Turnkey Investment Opportunity in Low Volatility Submarket
- Long-Term Single-Tenant Office Building
- 12+ Years Left Remaining on Lease
- 3.5% Annual Rental Increases
- $200,000 in Improvements in 2015
- Gated Property with Subterranean Parking Garage with 20+ Private Balconies
- High Visibility From Interstate-5
- Property is Divisible into 4 Separate Units
- 4.13 / 1,000 SF Parking Ratio
Net Rentable Area
- Item Requires Shipping
- This a very rare single tenant office building offering with more than 12 years remaining on its initial lease. The tenant pays reimbursements above its 2013 base year, allowing for returns to be shielded from any increase in property tax.
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